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I don't see how it addresses the issues in the research. Care to explain? If min wage is set to X, anyone incapable of adding more then X to an employer is pri
by ChrisLomont 8y ago
I don't see how it addresses the issues in the research. Care to explain?
If min wage is set to X, anyone incapable of adding more then X to an employer is priced out of the job market. In this research the rise in wages resulted in reduced hours which were made up in neighboring markets which did not have this min wage.
- Retric 8y agoI was addressing your inflation statement which is really not supported by evidence. In terms of pricing people out of the workforce, that’s not nessisarily a bad thing on net assuming a strong safty net. But again separate argument.
- ChrisLomont 8y agoTwo things: raising the min wage puts upward pressure on wages above the min also, so your estimate is not correct. Someone making min+1 will still expect to make min+~1 after the hike. Also, inflation need not be national to be inflation. This is why places with higher min wages tend to have higher overall wages and higher overall prices. These things do not operate in a vacuum. Look at prices where wages are low compared to process where wages are high, e.g., SF versus smalltown Alabama. So there is ample evidence that these things are related. By taking national averages you necessarily miss the local variation which clearly shows a price/wage correlation.